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Top Traders Unplugged episodes
- 17 The Systematic Investor Series – January 5th, 2019Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary00:00 - Intro01:40 - Weekly review07:30 - Annual review22:00 - Top Tweets/Related discussions (Good info on process/philosophy this week)40:20 - Questions41:00 - Question 1: George45:00 - Question 2: George50:00 - Question 3: Michael1:08:00 - Performance rundownSubscribe on:1 hr 13 min
- 17 The Systematic Investor Series – January 5th, 2019Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary00:00 - Intro01:40 - Weekly review07:30 - Annual review22:00 - Top Tweets/Related discussions (Good info on process/philosophy this week)40:20 - Questions41:00 - Question 1: George45:00 - Question 2: George50:00 - Question 3: Michael1:08:00 - Performance rundownSubscribe on:1 hr 13 min
- SI17: The philosophy of Trend Following
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can discuss.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Episode TimeStamps:
00:00 – Intro
01:40 – Weekly review of performance
07:30 – Annual review
22:00 – Top Tweets/Related discussions (Good info on process/philosophy this week)
40:20 – Questions
41:00 – Question 1: George
45:00 – Question 2: George
50:00 – Question 3: Michael
01:08:00 – Benchmark performance update
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
Privacy Policy
Disclaimer
1 hr 13 min - 16 The Systematic Investor Series – December 29th, 2018Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary0:00 - Intro1:55 - Weekly review13:00 - Top tweets35:30 - Question 1: George; Is there a best system to trade trends?49:20 - Question 2: George; Why have discretionary macro traders outperformed TF?55:25 - Question 3/4: George; What is a safe expectation for systems in terms of CAGR to Drawdown? Do you think a “golden” period for TF like the 1970s will come back?1:04:00 - Question 5: Liew: What price should my trailing stop reference (high, low, close, etc.)?1:08:00 - Performance recapSubscribe on:1 hr 14 min
- 16 The Systematic Investor Series – December 29th, 2018Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary0:00 - Intro1:55 - Weekly review13:00 - Top tweets35:30 - Question 1: George; Is there a best system to trade trends?49:20 - Question 2: George; Why have discretionary macro traders outperformed TF?55:25 - Question 3/4: George; What is a safe expectation for systems in terms of CAGR to Drawdown? Do you think a “golden” period for TF like the 1970s will come back?1:04:00 - Question 5: Liew: What price should my trailing stop reference (high, low, close, etc.)?1:08:00 - Performance recapSubscribe on:1 hr 14 min
- SI16: What Returns and Drawdowns can you expect from Trend Following
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can discuss.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Episode TimeStamps:
00:00 – Intro
01:55 – Weekly review of performance
13:00 – Top tweets
35:30 – Question 1: George; Is there a best system to trade trends?
49:20 – Question 2: George; Why have discretionary macro traders outperformed TF?
55:25 – Question 3/4: George; What is a safe expectation for systems in terms of CAGR to Drawdown? Do you think a “golden” period for TF like the 1970s will come back?
01:04:00 – Question 5: Liew: What price should my trailing stop reference (high, low, close, etc.)?
01:08:00 – Benchmark performance update
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
Privacy Policy
Disclaimer
1 hr 14 min - 15 The Systematic Investor Series – December 22nd, 2018Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary0:00 - Intro1:50 - Weekly review5:50 - Top tweets19:30 - Question 1: Michael; Are trend followers relaxed (in terms of personality) in general?23:00 - Question 2: Michael; Why does TF in stocks work?28:30 - Question 3: Michael; How do you measure single stock correlation?33:05 - Question 4: Nick; Do you ever front run your systems?35:00 - Question 5: David; Have you ever been through a market similar to this year (2018) and how did it turn out/what did you learn?38:45 - Question 6: Can you give us a proven TF strategy (ex. Donchian)?43:05 - Question 7/8: Timothy; Has too much diversification hurt TF in the last decade? Should TF focus on markets that are trending?52:10 - Question 9: Anish; How do you identify relative strength and accordingly allocate capital between different asset classes?59:55 - Question 10: Does the intensity of trends change over time?1:04:30 - Question 11/12: Have the markets changed during your time as a trader and if so how? If a market has been trending is it more likely to continue trending than to reverse?1:16:10 - Question 13: Nitesh; Is Short-term TF impossible now or does it need to be done differently from medium to long-term?1:18:00 - Question 14: Dave; How do you select a universe of single stocks for TF?1:21:20 - Question 15/16: Ted; What are the parameters you use around Nat Gas? With high volatility swings, how do stay in a position?1:25:50 - Performance recapSubscribe on:1 hr 31 min
- 15 The Systematic Investor Series – December 22nd, 2018Welcome to The Systematic Investor series. It's a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a "call" each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It's a raw and honest exploration and we hope you will join and be part of...not least by sending us questions that we can discuss. Please send your questions to [email protected]Episode Summary0:00 - Intro1:50 - Weekly review5:50 - Top tweets19:30 - Question 1: Michael; Are trend followers relaxed (in terms of personality) in general?23:00 - Question 2: Michael; Why does TF in stocks work?28:30 - Question 3: Michael; How do you measure single stock correlation?33:05 - Question 4: Nick; Do you ever front run your systems?35:00 - Question 5: David; Have you ever been through a market similar to this year (2018) and how did it turn out/what did you learn?38:45 - Question 6: Can you give us a proven TF strategy (ex. Donchian)?43:05 - Question 7/8: Timothy; Has too much diversification hurt TF in the last decade? Should TF focus on markets that are trending?52:10 - Question 9: Anish; How do you identify relative strength and accordingly allocate capital between different asset classes?59:55 - Question 10: Does the intensity of trends change over time?1:04:30 - Question 11/12: Have the markets changed during your time as a trader and if so how? If a market has been trending is it more likely to continue trending than to reverse?1:16:10 - Question 13: Nitesh; Is Short-term TF impossible now or does it need to be done differently from medium to long-term?1:18:00 - Question 14: Dave; How do you select a universe of single stocks for TF?1:21:20 - Question 15/16: Ted; What are the parameters you use around Nat Gas? With high volatility swings, how do stay in a position?1:25:50 - Performance recapSubscribe on:1 hr 31 min
- SI15: Has too much Diversification hurt performance in recent years?
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can discuss.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Episode TimeStamps:
00:00 – Intro
01:50 – Weekly review of performance
05:50 – Top tweets
19:30 – Question 1: Michael; Are trend followers relaxed (in terms of personality) in general?
23:00 – Question 2: Michael; Why does TF not work on stocks work?
28:30 – Question 3: Michael; How do you measure single stock correlation?
33:05 – Question 4: Nick; Do you ever front run your systems?
35:00 – Question 5: David; Have you ever been through a market similar to this year (2018) and how did it turn out/what did you learn?
38:45 – Question 6: Can you give us a proven TF strategy (ex. Donchian)?
43:05 – Question 7/8: Timothy; Has too much diversification hurt TF in the last decade? Should TF focus on markets that are trending?
52:10 – Question 9: Anish; How do you identify relative strength and accordingly allocate capital between different asset classes?
59:55 – Question 10: Does the intensity of trends change over time?
01:04:30 – Question 11/12: Have the markets changed during your time as a trader and if so how? If a market has been trending is it more likely to continue trending than to reverse?
01:16:10 – Question 13: Nitesh; Is Short-term TF impossible now or does it need to be done differently from medium to long-term?
01:18:00 – Question 14: Dave; How do you select a universe of single stocks for TF?
01:21:20 – Question 15/16: Ted; What are the parameters you use around Nat Gas? With high volatility swings, how do stay in a position?
01:25:50 – Benchmark performance update
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
Privacy Policy
Disclaimer
1 hr 31 min - Best of TTU – Systematic Global Macro…An Experts ViewA while back I had a very memorable time talking with Anders Lindell, discussing many trading related topics. There was one part in particular that I want to share where Anders shared his understanding on US institutions and how they deal with asset allocation and position sizing. If you would like to find out then read on! If you would like to listen to the full conversation just go to top traders episode 23 and Episode 24.US institutions Dealing with Asset Allocation, Position SizingNiels: Now before we jump into the first topic more specifically to IPM, I want to ask you... you mentioned the traditional 60/40 bond stock, or stock bond, depending on whether you were European or whether you were a US institution - they seem to have a little bit of a different asset allocation, as far as I remember.The world has changed in the last 10, 20, 30 years of course, and I just wonder, from a really big picture point of view, how do you see them dealing with this asset allocation, not from what you do, but from what they do and how they may interact with firms like you. Are they becoming more open, so it's not just 48/52 that they changed to or whatever it might be, are they starting to take bolder decisions in their own asset allocation?Anders: There's a whole range of answers to that. I think, generally, the answer will be yes, on sort of a global basis."In Europe, finding a long term institution having a hedge fund allocation exceeding 3%, 4%, 5% would be unusual. "I think if you look at US institutional investors; they probably come further than their European counterparts in allocating very significant parts of the risk budgets to folks like ourselves, and generally hedge funds. Whereas, in Europe, finding a long term institution having a hedge fund allocation exceeding 3%, 4%, 5% would be unusual. Finding the same in the US would be the norm, being north about even up to 10%, 15% that would be the norm.But then you have, obviously, various examples. If you look at your own native country and the big pension fund there, ATP they instituted, I believe about 10 years ago, a radically different asset allocation structure from the traditional, where they basically, and you can correct me if I'm wrong here, but basically what they do is they sort of equal weight their risk budget across 10, 15 different asset classes ranging from infrastructure to traditional markets.So people are doing a large number of different things, but I think the general observation holds true that North Americans, generally speaking, are much more into seeking alternative sources and allocating significant parts of the risk budget to those alternative sources of returns, than Europeans are. Obviously this also has something to do with the state, generally, of the pension systems.If you look at US pensions, corporate and state, they are generally underfunded to a very large degree - 60%, 70% funding ratio, whereas most European countries that have funded pension systems, would have significantly higher funding ratios. Many of them actually 100% or better. So this obviously changes your long term strategic allocation.Yes, you have to match liabilities, but if you are underfunded, and if you are running something at 70% funding ratio, than you better seek methods to make up for the shortfall pretty quickly.Another major point that I want to mention is a time horizon or investment horizon. People may trade in or out, or create trends and prices may deviate, you know that's noise of the shorter time spans. We're trying to step back and avoid that by explicitly trading and holding positions a longer period of timeNiels: A couple of things that come to mind when you say that. In one sense, it actually is a great injustice, not just to your strategy,15 min
About Top Traders Unplugged
From the publisher's feed
Top Traders Unplugged is where the world’s best investors come to share how they think - not just what they trade.
Hosted by Niels Kaastrup-Larsen, the show goes deep into systematic trend following, global macro, and the principles that drive long-term success.
No forecasts. No fads. Just real conversations with hedge fund managers, economists, authors, and allocators - revealing the timeless ideas, mental models, and risk frameworks behind robust performance.
If you're building resilient portfolios, allocating capital, or simply looking to cut through the noise - this is your edge.
Clear thinking. Deep insights. Real experience.
🎧 New episodes weekly. Explore all episodes at toptradersunplugged.com https://toptradersunplugged.com
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